The Nasdaq 100 closed lower by around 1.5% on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.

ANI Pharmaceuticals

The Trade: ANI Pharmaceuticals, Inc. ( ANIP ) President and CEO Nikhil Lalwani sold a total of 62,317 shares at an average price of $66.27. The insider received around $4.13 million from selling those shares.

What's Happening: On Feb. 29, ANI Pharmaceuticals ( ANIP ) posted upbeat quarterly earnings.

What ANI Pharmaceuticals Does: ANI Pharmaceuticals Inc ( ANIP ) develops, manufactures, and markets generic prescription pharmaceuticals. It manufactures liquid, powder, and oral solid dose products.

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R1 RCM

The Trade: R1 RCM Inc. ( RCM ) President John M. Sparby sold a total of 13,796 shares at an average price of $14.33. The insider received around $143,959 from selling those shares.

What's Happening: On Feb. 27, R1 RCM ( RCM ) posted downbeat quarterly sales.

What R1 RCM Does: R1 RCM Inc ( RCM ) is a provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers.

Dover

The Trade: Dover Corporation ( DOV ) Director Stephen M. Todd sold a total of 1,500 shares at an average price of $171.19. The insider received around $256,785 from selling those shares.

What's Happening: On Feb. 1, Dover reported fourth-quarter fiscal 2023 revenue of $2.106 billion, a decline of 1.6% year-over-year, missing the consensus of $2.16 billion.

What Dover Does: Dover is a diversified manufacturer and solutions provider delivering equipment and components, consumable supplies, aftermarket parts, software digital solutions, and support services.

Alphabet

The Trade: Alphabet Inc. ( GOOG ) President, CFO Ruth Porat sold a total of 48,077 shares at an average price of $137.22. The insider received around $6.6 million from selling those shares.

What's Happening: Alphabet's Google ( GOOG ) has revealed that its latest Pixel 8 smartphone will miss out on the highly-anticipated Gemini Nano AI feature.

What Alphabet Does: Alphabet is a holding company. Internet media giant Google ( GOOG ) is a wholly owned subsidiary. Google ( GOOG ) services account for nearly 90% of Alphabet's revenue, of which more than 85% is from online ads.

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